Ive noticed Nationwide have drastically dropped ERC's

IAMIAM

on new products, a sign of things to come?

MattMattMattUK

Maybe, maybe not. 
Nationwide may be doing so to attract a particular type of client, they are one of the strictest lenders in general so they are probably safe in that way, but they may be looking to encourage high earners to bank with them (high earners are the most likely group to want to replay). However it might also mean nothing, most people will not repay and incur a fee during their fixed period and will instead wait until the end of their 2/3/5 year period then pay without any fees at all. 

ACG

Is this on their tracker products? 
If that is the case, that is not something new. I took out a tracker mortgage with no ERCs through Nationwide in 2016. We knew we were going to move house within the next 12 months, so we went to them. 

I cant see anything that says they have altered how they charge ERCs. 

IAMIAM

Fixed products only. Its now 1.5% ERC and 0.75% in year 2. The five year fixes have also been adjusted accordingly.

Dandytf

@ACG
my 2nd Natwide tracker 1.34% is due to end soon.
No ecr's

ACG

IAMIAM said:

Fixed products only. Its now 1.5% ERC and 0.75% in year 2. The five year fixes have also been adjusted accordingly.

I have just had to really look for them telling us about that. It seems it changed on the 1st Feb. 
I would not read into it. The ERCs have to be representative of their losses should the mortgage be cleared within the ERC period. It could just be that they have had a complaint upheld or that their costs have come down and so they have to pass that on to the customer. 

caeler

Interesting.  I'm on a fixed rate product with NW right now and I'd be 0.5% better off on the ERC I'll be paying this year!